A new report reveals most employers still plan to hire in 2024 despite economic uncertainties. However, competition for skilled talent will be fierce. How can companies attract and retain top talent in the year ahead?
The recruitment survey by Hays Ireland found 85% of employers intend to continue recruitment, though slightly fewer than 90% last year. Over 75% bumped up salaries in 2023 largely to combat inflation.
Yet skills gaps persist – 94% of respondents reported talent shortages, up from 92% last year. Over half called recruiting the right people their biggest external challenge.
Retention Talent
Making matters worse, 62% predict retaining talent will be the biggest internal struggle over the next 12 months. 40% of workers who changed jobs last year cited lack of career progression as the reason.
Economic Optimism
On a positive note, 58% of employers described optimism about the year ahead. This determination to keep hiring despite headwinds signals a resilient job market.
With skilled talent scarce, firms will likely need to upskill existing staff, offer remote or hybrid policies, highlight career growth opportunities, and ensure compensation keeps pace with demand.
While challenges remain, the 2024 recruitment outlook is cautiously optimistic. Adaptability and creativity will help employers secure the people they need to propel success.
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